119
28. PATRONAGE REBATES, DIRECTORS’ HONORARIA AND DIVIDENDS
NOTES TO FINANCIAL STATEMENTS
March 31, 2013
2013
2012
$’000
$’000
Patronage rebates
50,947
48,440
Directors’ honoraria
524
512
First and final dividend of 7.5% (2012 : 8%)
13,958
14,608
65,429
63,560
The proposed patronage rebates represent 4.5% (2012 : 4.5%) of the eligible purchases.
Group and Co-operative
Subsequent to the end of the reporting period, the directors proposed the following patronage rebates, directors’
honoraria and dividends. The patronage rebates, directors’ honoraria and dividends have not been provided for, subject
to approval in the Annual General Meeting.
29. EVENTS AFTER THE REPORTING PERIOD
On April 1, 2013, National Trades Union Congress (“NTUC”), Singapore Labour Foundation (“SLF”) and all the 47
NTUC affiliated Unions transferred a total of 56,334,577 shares in the Co-operative to a newly incorporated entity,
NTUC Enterprise Co-operative Limited (“NTUC Enterprise”).
NTUC Enterprise is the holding entity of the labour movement social enterprises. Collectively owned by NTUC, SLF and
their affiliated Unions, it guides the development of the social enterprises to meet the evolving needs and aspirations
of working families in Singapore.
